Shuffle Master Drops Ongame Acquisition

By Debra SaundersGoogle

After many months of negotiation, Shuffle Master Inc. has decided not to move forward with plans to acquire Ongame Poker Ltd. from Shuffle Master, the top rated online casino game maker, cited lower than expected profits from Ongame, causing it to re-evaluate the purchase. Statements on each company’s website acknowledge that the decision was made amicably and mutually.

Shuffle Master is known globally as one of the best online casino suppliers, making automatic card shufflers, roulette chip sorter, video slot machines as well as electronic table game platforms.

Gavin Isaacs, Shuffle Master’s Chief Executive Officer stated, “We remain ardent believers in the growth opportunities for online gaming and continue to focus intensely on the space.”

Representatives from top rated online casino brand Digital have made it known that they plan to begin discussions with other parties that have expressed their desire to acquire Ongame over the last few months.

Shuffle Master’s decision to walk away from the deal stemmed from the worsening of business conditions in the European market as well as uncertainty over the timing of online casino game legislation in the United States. As a result, Ongame was unable to achieve expected financial forecasts. Had Shuffle Master pushed forward, acquiring the company would have called for a more significant financial investment.

Louis Castle, Shuffle Master’s Chief Strategy Officer commented, “We are continuing to invest in our own state-of-the-art content platform, which capitalizes on our industry leading portfolio of Proprietary Table Games, and remain committed to serving our customers’ online needs.” 

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